The pressure for marketers to develop products and services that will be well received by consumers has never been higher. One way to reduce risk is to improve the quality of market research. As consumers move to more digital media consumption and digital shopping, market researchers are coming to terms with how to collect, interpret and report their findings. The 19th Annual Predictions Issue from Research Business Report contains great insights from experts regarding what to expect in 2014.
Several industry experts predict more emphasis on mobile. Chris Fanning, CEO at SSI, believes the industry needs to optimize surveys for use on mobile devices. With so many consumers relying on these devices, market researchers are missing the opportunity to tap into this audience by being slow to improve the mobile survey experience. Kristin Luck, president at Decipher, concurs, noting that 20% of respondents are trying to take surveys in the mobile environment and are growing frustrated with the poor user interface.
Others in MR have worried that the move to Big Data will mean the end of traditional survey research. But Michael Lieberman, president at Multivariate Solutions, points out that Big Data “will enhance the reach of the survey research industry, not replace it.” He may be right, considering that many marketers are currently overwhelmed by the wave of data coming at them. These marketers want to sell more product and need help interpreting what all of the data means. From Lieberman’s perspective, regression analysis and segmentation will rule the day for MR in 2014.
Another frequently mentioned trend in this report centers on the evolution of real-time decision-making based on instant data analysis. Check out this informative summary and feel free to share your opinions. What do you think the leading trend in MR will be in 2014?